Gujarat Government May Acquire Majority Stake In Adani’s Mundra Power Plant

The board of Adani Power Ltd. will meet on Tuesday to consider hiving off its flagship Mundra power station to a new subsidiary in which a Gujarat government entity may take a majority stake.

“A meeting of the board of directors of the company is scheduled to be held on June 6, 2017 to consider and evaluate, among others, the slump sale of its Mundra power generating business undertaking to its subsidiary company, named Adani Power (Mundra) Ltd.,” the company said in a regulatory filing. Read More…